Emeka Ike Loses His N200M Investment

Emeka Ike isn’t having the best of times right now.
The Nollywood actor diversified a few years ago and
launched his secondary school – St Nicholas College in
Magodo, Lagos, which he reportedly invested N 200 Million.
On Friday 24th January 2014, the school was shut down by
the court after a court battle since its establishment in 2005.
According to reports, the 90s lover boy was battling for
ownership of the school property until he recently lost the
Emeka allegedly refused to pay money to the property
owners. Emeka and his wife who run the school were
subject of various allegations for the past five years.
Some of the allegations include none payment of salaries for
6 months, employing unqualified teachers to cut costs,
increasing the tuition fees and not repairing parts of the
school which were dilapidated.
Last week, under instructions by the court, the school was
taken possession of and sealed. Some of the furniture, air
conditioners and school buses were taken by the court, while
others were left outside the school premises.
Maestro’s Media was first to report the story. See photos

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